PRESS RELEASE. BitYard is delighted to announce our integration of 80+ Chainlink Price Feeds to obtain accurate price data in a timely manner within our exchange. By integrating the industry-leading decentralized oracle network, BitYard has access to decentralized price feeds for popular spot trading pairs—with plans to continually add additional feeds over time. Chainlink Price Feeds support BitYard’s existing frameworks by helping ensure that we are offering users more precise and transparent pricing for perfect spot trading executions.
BitYard is a leading cryptocurrency exchange that offers crypto asset trading services in over 150 countries worldwide. BitYard has over 300 spot trading pairs, along with CFD, perpetuals, forex, commodities and copy-trading features. The platform simplifies crypto trading for novice investors and offers an easy-to-understand user interface.
As a cryptocurrency exchange in the CeFi ecosystem, BitYard experiences price volatility across trading pairs on a daily basis. However, by integrating Chainlink Price Feeds, we have a valuable tool for improving the overall price stability and exchange rates offered to users in need of crypto services. This includes improving our backend pricing mechanism, spotting price anomalies, and triggering circuit breakers—all particularly important during times of high volatility. The result is an extra layer of confidence and trust among traders, allowing them to execute strategies based on real-time market conditions.
Chainlink Price Feeds stood out from other data solutions because of a multitude of superior features it offers, such as:
- Accurate Pricing – Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that’s aggregated from hundreds of exchanges, weighted by volume, and cleaned from outliers and suspicious volumes. Chainlink’s data aggregation model is resistant to API downtime, flash crash outliers, and data manipulation attacks.
- Reliable Updates — Chainlink Price Feeds utilize decentralized networks of professional node operators run by leading blockchain DevOps teams and traditional enterprises with a strong track record of uptime and responsiveness during market volatility.
- Transparent Infrastructure — Chainlink provides a robust set of monitoring tools that allow users to verify the historical and real-time performance of price feeds.
- Industry Leading – Chainlink is an industry-leading oracle that helps secure tens of billions of dollars in value and is trusted by hundreds of different applications
“By integrating Chainlink Price Feeds into our platform, BitYard can offer even more accurate and transparent pricing to traders. This will drive a superior platform experience, as users have stronger assurances that they are getting fair market rates with additional layers of protection during market volatility,” stated Michael Hung, BitYard’s Director of Marketing.
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.
Learn more about Chainlink by visiting chain.link or read the documentation at docs.chain.link. To discuss an integration, reach out to an expert.
Founded in late 2019 and headquartered in Singapore, BitYard is a leading global cryptocurrency derivatives exchange. As one of the fastest-growing exchanges, BitYard has continuously optimized and upgraded the platform and has brought many quality trading services to users worldwide. With the new corporate slogan “Grow Your Future in the Yard” BitYard will continue to help investors around the world to achieve their goals through providing one-stop financial trading services.